A Plan to Tame the Dollar

Whenever business executives get together these days, the talk quickly turns to the strong dollar. Says Peter Peterson, former chairman of Wall Street's Lehman Bros. and Commerce Secretary during the Nixon Administration: "I am on five company boards, and on four of them there is much more discussion about the dollar than ever before." Peterson, who was a guest at the meeting of TIME's Board of Economists, called for quick action to stop the rise of the dollar and help American exporters. His program:

Reduced Budget Deficit. "The first step," says Peterson, "is to get our budget deficit down on a...

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